The Free State Provincial Government to Drive Economic Growth By harnessing Investments.Guest: MEC Thabo Meeko, Free State MEC for Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA in short)
In his 2023 State of the Province Address, Premier Hon. Mxolosi Dukwana made a commitment that the province will host the second instalment of the Free State Investment Conference as part of the government's efforts to grow the economy by harnessing investments. This year's conference will be held on 27 February 2024 at the Centenary Complex at the University of the Free State.
This conference is hosted against the background where the latest statistics indicate that the Free State official unemployment rate increased to 38.5% in
the third quarter of 2023; from 33.8% in the third quarter of 2022. In the third quarter of 2023 there were 727 000 employed people; 3000 jobs were lost in the same quarter. Annually, when quarter three of 2022 and quarter three of 2023 are compared, the province lost 70000 jobs. The high unemployment rate is largely due to contraction of key economic sectors such as mining, manufacturing, and construction.
The Free State Provincial Government is thus excited to host this significant event, which will build up on the resolutions of the inaugural Investment Conference, which took place in October 2019. The conference will offer an interactive programme that will see government, business, academics, entrepreneurs; local and international investors, experts and other role players discuss the Free State investment opportunities, explore the emerging economic trends and find solutions to investment challenges.
The investment conference will seek to promote the province as an investment destination of choice and highlight strategic investment opportunities across various sectors. The focus areas are: energy; mining and gas extraction; infrastructure; transport and logistics, as well as tourism.
This instalment of the Free State Investment Conference will be held under the theme: 'Harnessing Partnerships and Stimulating Growth and Development
Through Investments.
What are the purpose and objectives behind hosting this investment conference?
What are the focus areas of your investment conference?
We are aware through your departmental social media platforms and media statements that last year, you went to Singapore and China. Is this investment conference emanated from those engagements?
Free State is in the center of South Africa; it shares borders with six provinces and a country called Lesotho. Therefore, what are the investment opportunities in your province?
The attraction and retention of investment as articulated by the president is key to growing the economy. Therefore, how is the investment conference going to benefit the people of the Free State, especially SMMEs?
To an investor or potential funder listening and not part of the invited guests, what confidence do you share to show how Free State is committed to attracting investors?
You like articulating more on value chain beneficiation. How that is approach critical to the growing of township economy?
Are there any invited investors outside SA?
Lastly, what happened with the program that u initiated upon arrival where you were meeting/engaging different municipalities to unlock the economic opportunities?